The State of Real Estate in Cayman
A few things about Real Estate that are worth noting that perhaps you haven't come across when browsing other websites:

1. Effective November 14, 2002, The Cayman Islands Government has decided to keep the Stamp Duty to 5% island wide for a further six months. The usual Stamp Duty along the Seven Mile Beach corridor is 9%; the rest of the island is usually 7.5%. The reduced duty of 5% across the board represents significant savings for purchasers of property - particularly those along the Seven Mile Beach Corridor. The initial reduction in Stamp Duty was made on November 15, 2001 in conjunction with other Government reductions.
2. We are still in a buyer's market, although in some areas it would be a seller's market. There are buyers waiting on units to come up in properties where units coming up for sale is a rarity - and if and when owners decide to sell, they can name their price and most likely they will get it! Overall, property levels are still very low and some prices may come down just a little bit more, but we're basically seeing the tail end of the bottom of the barrel. There are a lot of great properties for sale in The Cayman Islands but as the economy slowly recovers so do some of the vendors, thereby making prices a little less negotiable.
3. Due to the worldwide economical slowdown, you'll no doubt surmise that we are in a genuine buyer's market. Property levels are at an all-time low and prices may come down just a little bit more, but we're basically seeing the bottom of the barrel here. There are a lot of great properties for sale in The Cayman Islands and there's never been such a great time to buy.
4. As you stroll through various websites on Cayman Real Estate, you'll see a "MLS#" for most or all listings. This means that the property is Multilisted, so any agent within the system can assist you with information on this property. CIREBA members are all on the Multilist System, so you only need to work with one agent in CIREBA to get information on any of the listings that fit your criteria. Cayman Fidleity works hard to stay in the know about all properties for sale, so that we can fully answer all Real Estate enquiries, whether the property is listed with us or not. Selling a property with another CIREBA agent (called "co-broking") does not affect the sales price in any way. The commissions received in co-broke sales are split evenly between the agents involved.